Saudi Arabia faces a crisis in the next three to five years if oil prices remain low and the country still has big budget deficits and a rigid, pegged currency, participants in the Reuters Global Investment Outlook Summit said on Tuesday.

Saudi Arabia faces a crisis in the next three to five years if oil prices remain low and the country still has big budget deficits and a rigid, pegged currency, participants in the Reuters Global Investment Outlook Summit said on Tuesday.

The Swiss National Bank shocked markets on Tuesday by setting a minimum exchange rate for the Swiss franc against the euro, in a move which sent European shares and the price of gold down.
The SNB exchange rate cap move disc

Standard Chartered Bank has backed a suggestion by Dubai International Financial Centre (DIFC) that GCC countries should drop their currency peg and tackle inflation.
DIFC made its suggestions in a report on progress towards GCC monetary u

Bahrain may choose to fix its dinar to the Saudi Arabian currency if other Gulf countries decide to abandon dollar pegs, a report said.
Oman could keep its rial pegged to the tumbling US dollar, Citigroup was quoted as saying by Gulf Daily